- Introductory rates as low as 0.99% APR on New Home Equity Lines of Credit for 90 days then as low as 4.25% variable APR.
- Allows you to borrow funds using the equity in your home
- Draw money as you need it
- Required monthly payments are interest only
- No closing costs, no prepayment penalties, no annual fee
- Most closings in two weeks or less
- Also known as a HELOC
A Good Option If:
- You want to consolidate other loans or credit cards, finance home improvements, purchase large-ticket items, or pay for major expenses
- You want the flexibility of using the funds only when and if you need them
|Home Equity Line of Credit||Interest Rate||APR||Points|
|Home Equity Line of Credit||4.25%||4.25%||0.0|
Each individual's Annual Percentage Rate (APR) is determined by the applicant's credit history. Not all applicants will qualify for the displayed lowest rates. Home Equity Line of Credit: The Introductory Annual Percentage Rate (APR) of 0.99% is for new home equity line of credits only and is for the first 90 days. To receive the Introductory rate, a draw of at least $5,000 must be made within 30 days of account opening. After the introductory rate expires, balances will be charged at the variable APR based upon the Prime rate as published in The Wall Street Journal plus a margin. The APR will never be lower than 3.75% or higher than 18%. Rates vary depending upon credit history, combined loan-to-value (CLTV), and occupancy. The stated rate applies to lines secured by credit score of 740 or greater, CLTV 80% or less, and owner-occupied single-family residences (includes townhomes, row homes, condominiums, and co-ops). Elements Financial will pay most closing costs on new applications including settlement fees, flood determination fee, title search, title insurance, and notary fees. You may be required to pay other closing costs such as government fees and recording charges, taxes, and when required, appraisal fees. Elements Financial reserves the right to modify or end this offer at any time. Subject to credit approval. Elements Financial Membership Required.